Accounting Control Guide - Dynamics GP - Microsoft Learn

3/16/23, 8:16 AM Accounting Control Guide - Dynamics GP | Microsoft Learn
Project Accounting - Accounting

Control Guide
Article • 03/02/2022 • 79 minutes to read
Introduction
The Project Accounting Accounting Control Guide includes information for

accounting managers about how to use Microsoft Dynamics® GP Project
Accounting to set up and control how credits and debits are posted to the Project
Accounting chart of accounts and how to recognize revenue for projects. It also
includes information about how to create, group, and print reports.
You can specify posting account numbers for cost categories in project budgets and
for fees assigned to projects. You can create the batches to be used for transactions
and, before posting, modify posting account distributions for transactions. You can
enter adjusting transactions and delete posted cost and billing transactions.
You also can use revenue recognition cycles to recognize revenue for multiple
customers, contracts, and projects at once.
Project Accounting Cost Management Guide Includes information about how to

estimate and track project costs, and specify how billing amounts, revenue, and
profit should be calculated, based on project costs.
Project Accounting Billing Guide Includes information about how to create billing
invoices for customers.
Project Accounting Administrator’s Guide Includes information about how to set

up user security and maintain your company databases for Project Accounting.
This introduction is divided into the following sections:
What’s in this manual
Symbols and conventions
Resources available from the Help menu
https://learn.microsoft.com/en-us/dynamics-gp/distribution/projacctaccountingcontrol 1/73
What’s in this manual
This manual is designed to give you an understanding of how to use the accounting
control features of Project Accounting, and how it integrates with the Microsoft
Dynamics GP system.
To make best use of Project Accounting, you should be familiar with systemwide
features described in the System User’s Guide, the System Setup Guide, and the
System Administrator’s Guide. Choose Help > Printable Manuals for more
information.
You might also need to be familiar with features described in General Ledger, Bank
Reconciliation, Multicurrency Management, Purchase Order Processing, Purchase
Order Enhancements, Payables Management, Receivables Management, Inventory
Control, United States Payroll, Canadian Payroll, or Report Writer
Some features described in the documentation are optional and can be purchased
through your Microsoft Dynamics GP partner.
To view information about the release of Microsoft Dynamics GP that you’re using
and which modules or features you are registered to use, choose Help > About
Microsoft Dynamics GP.
The manual is divided into the following parts.
Part 1, Posting setup and control, includes information about how to specify
posting account numbers for cost categories in project budgets and for fees
assigned to projects. It also includes information about how to create batches for
transactions manually, how to modify posting account distributions for
transactions, and how to post multiple batches at once.
Part 2, Revenue recognition, includes information about how to create and use
revenue recognition cycles to recognize revenue for multiple customers, contracts,
and projects at once. It also includes information about how to modify revenue
recognition transactions before posting and how revenue is calculated for
recognition.
Part 3, Reports and utilities, includes information about reports in Project

Accounting and how to create, group, and print them. It also includes information
about how to enter adjusting transactions to reverse and correct cost transaction
line item entries, and how to delete posted cost and billing transactions and
Closed contracts. The documentation also includes information about how to use
various accounting utilities.
Contents
Opens the Help file for the active Microsoft Dynamics GP component, and displays
the main “contents” topic. To browse a more detailed table of contents, click the
Contents tab above the Help navigation pane. Items in the contents topic and tab
are arranged by module. If the contents for the active component includes an
“Additional Help files” topic, click the links to view separate Help files that describe
additional components.
To find information in Help by using the index or full-text search, click the
appropriate tab above the navigation pane, and type the keyword to find.
To save the link to a topic in the Help, select a topic and then select the Favorites
tab. Click Add.
About this window
Displays overview information about the current window. To view related topics and
descriptions of the fields, buttons, and menus for the window, choose the
appropriate link in the topic. You also can press F1 to display Help about the current
window.
Lookup
Opens a lookup window, if a window that you are viewing has a lookup window. For
example, if the Checkbook Maintenance window is open, you can choose this item
to open the Checkbooks lookup window.
Show Required Fields
Highlights fields that are required to have entries. Required fields must contain
information before you can save the record and close the window. To change the
way required fields are highlighted, choose Microsoft Dynamics GP menu > User
Preferences > Display, and specify a different color and type style.
What’s New
Provides information about enhancements that were added to Microsoft Dynamics

GP since the last major release.
Microsoft Dynamics GP Online
Opens a Web page that provides links to a variety of Web-based user assistance
resources. Access to some items requires registration for a paid support plan.
Part 1: Posting setup and control

This part of the documentation includes information for the accounting manager
about how to specify posting account numbers for cost categories in project
budgets and for fees assigned to projects. It also includes information about how to
create batches for transactions manually, how to modify posting account
distributions for transactions, and how to post multiple batches at once.
Chapter 1, “Posting setup,” includes information about the Project Accounting chart
of accounts and how to specify posting account numbers for cost categories in
project budgets and for fees assigned to projects. It also includes information
about how to specify the posting account segment numbers to use when posting
amounts for individual contracts and projects.
Chapter 2, “Posting control,” includes information about how to create batches for
transactions, how to review and modify posting account distributions for
transactions in batches, and how to post batches.
Chapter 1: Posting setup

about the Project Accounting chart of accounts and how to specify posting account
numbers for cost categories in project budgets and for fees assigned to projects. It
also includes information about how to specify the posting account segment
numbers to use when posting amounts for individual contracts and projects.
The following topics are discussed.
The Project Accounting chart of accounts
The Work In Progress posting account
Specify default posting account numbers for records and classes for cost transactions
Specify default posting account numbers for cost categories in project budgets
Specify posting account numbers for a cost category in a project budget
Specify default posting account numbers for records and classes for fees
Specify default posting account numbers for fees assigned to projects
Specify posting account numbers for a fee assigned to a project
Specify account segment numbers to use when posting amounts for a contract
Specify account segment numbers to use when posting amounts for a project
The Project Accounting chart of accounts

The following chart of accounts is used for Project Accounting.
Account Typical balance Financial statement
Cost of Goods Sold (COGS) Debit Profit and Loss Statement
Contra Credit Balance Sheet
Overhead Credit Balance Sheet
Unbilled Accounts Receivable Debit Balance Sheet
Unbilled Project Revenue Credit Balance Sheet
Inventory Debit Balance Sheet
Accrued Purchases Credit Balance Sheet
Accounts Payable Credit Balance Sheet
Project Revenue Credit Profit and Loss Statement
Accounts Receivable Debit Balance Sheet
Account Typical balance Financial statement
Work In Progress Debit Balance Sheet
Project Costs Debit Profit and Loss Statement
Project Billings Credit Balance Sheet
Project Losses Credit Balance Sheet
Earnings in Excess of Billings (EIEB) Debit Balance Sheet
Billings in Excess of Earnings (BIEE) Credit Balance Sheet
The Work In Progress posting account

The WIP (Work In Progress) posting account is a holding account on the Balance
Sheet. It has a typical debit balance and is used to track actual project costs that
haven’t been billed for Time and Materials projects that use the When Billed
accounting method, or actual project costs for Cost Plus and Fixed Price projects
that haven’t been closed.
See Accounting methods and recognizing revenue for more information. See also
Project types in the Project Accounting Cost Management Guide and Age work in
progress amounts for projects that use the When Billed accounting method in the
Project Accounting Billing Guide for more information.
Specify default posting account numbers for records and

classes for cost transactions
For various types of records and classes, including customers, contracts, projects,
cost categories, employees, vendors, equipment, and miscellaneous, you can specify
the default posting account numbers to use for cost transactions. You can specify
these settings for Time and Materials projects and for Cost Plus and Fixed Price
projects.
You also can specify the type of record that will be used to determine the default
posting account numbers for cost categories for various cost transaction types. See
Specify default posting account numbers for cost categories in project budgets for
more information.
1. Open the window for the record or class that you’re specifying default posting
account numbers to use for cost transactions.
The following table lists the windows and how to open them.
(IMAGE PACTAB.jpg)
1. In the Transaction Type list, select whether to specify settings for timesheets,
employee expense transactions, equipment logs, miscellaneous logs, or
purchases/materials transactions. Purchases/materials is for purchase orders,
shipment receipts, shipment/invoice receipts, invoice receipts, and inventory
transfers with non-inventoried items.
2. For each posting account, select the account number to use for the record or class
for the cost transaction.
3. Click OK.
Specify default posting account numbers for cost

categories in project budgets
You can specify the default posting account numbers to use for cost categories in
project budgets, depending on the type of cost transactions that the cost
categories are for. See Cost categories and cost transactions in the Project
Accounting Cost Management Guide for more information.
For each type of cost transaction, you must specify the type of record that will be
used to determine the default posting account numbers for cost categories for the
transaction type. You can specify these settings for Time and Materials projects and
for Cost Plus and Fixed Price projects. See Specify default posting account numbers
for records and classes for cost transactions for more information.
You also can select specific default posting account numbers or select to use no
default posting account numbers.
After you assign a cost category to a project budget, you can modify the posting
account numbers to use for the cost category in the budget. See Specify posting
account numbers for a cost category in a project budget for more information.
Open the Project Setup Cost Budget Accounts window.
Microsoft Dynamics GP menu > Tools > Setup > Project > Project > Accounts
button
(IMAGE PACSET.jpg)
1. In the Transaction Type list, select whether to specify settings for cost categories
that are for timesheets, employee expense transactions, equipment logs,
miscellaneous logs, or purchases/materials transactions. Purchases/ materials is for
purchase orders, shipment receipts, shipment/invoice receipts, invoice receipts,

and inventory transfers with non-inventoried items.
2. For each posting account, in the Source column select whether to use the default
account number that you’ve specified for the customer, contract, project, cost
category, or transaction owner (Trx Owner) that the cost transaction is for. The
transaction owner is the employee, equipment, miscellaneous, or vendor record
that the cost transaction is for.
Select None if you won’t be updating General Ledger. No default account number
will be used for the posting account.
To use this window to select a specific default account number to use for the
posting account, select Specific and select the account number.
Specify posting account numbers for a cost category in a

project budget
You can specify the posting account numbers to use for a cost category in a project
budget, including the type of record that will be used to determine the default
posting account numbers. See Specify default posting account numbers for records
and classes for cost transactions for more information.
You also can select specific default posting account numbers or select to use no
You also can specify the default posting account numbers to use for cost categories in
project budgets, depending on the type of cost transactions that the cost categories
are for. See Specify default posting account numbers for cost categories in project
budgets for more information.
1. Open the Budget Accounts window. Cards > Project > Project > Budget Button >
Cost Category expansion button > Accounts button
(IMAGE PACBUD.jpg)
account number that you’ve specified for the customer, contract, project, cost
category, or transaction owner (Trx Owner) for the type of cost transaction that
the cost category is for. The transaction owner is the employee, equipment,
miscellaneous, or vendor record that the cost transaction is for.
Specify default posting account numbers for records and

classes for fees
For various types of records and classes, including customers, contracts, projects,
and fees, you can specify the default posting account numbers to use for fees that
are assigned to projects. You can specify these settings for Time and Materials
projects and for Cost Plus and Fixed Price projects.
You also can specify the type of record that will be used to determine the default
posting account numbers for fees. See Specify default posting account numbers for
fees assigned to projects for more information.
Open the window for the record or class that you’re specifying default posting
account numbers to use for cost transactions.
1. For each posting account, select the account number to use for the record or class
for the cost transaction and then Click OK.
Specify default posting account numbers for fees

assigned to projects
You can specify the default posting account numbers to use for fees assigned to
projects. You must specify the type of record that will be used to determine the
default posting account numbers. You can specify these settings for Time and
Materials projects and for Cost Plus and Fixed Price projects. See Specify default
posting account numbers for records and classes for fees for more information.
You also can select specific default posting account numbers, or select to use no
After you assign a fee to a project, you can modify the posting account numbers to
use for the fee for the project. See Specify posting account numbers for a fee
assigned to a project for more information.
1. Open the Project Setup Fee Accounts window. Microsoft Dynamics GP menu >
Tools > Setup > Project > Project > Fee Accounts button
(IMAGE PACFEE.jpg)
account number that you’ve specified for the customer, contract, project, or fee.
Specify posting account numbers for a fee assigned to a

project
You can specify the posting account numbers to use for a fee assigned to a project,
including the type of record that will be used to determine the default posting
account numbers. See Specify default posting account numbers for records and
classes for fees for more information.
You also can select specific default posting account numbers, or select to use no
You can specify the default posting account numbers to use for fees assigned to
projects. See Specify default posting account numbers for fees assigned to projects for
more information.
Open the Project Fee Accounts window.
Cards > Project > Project > Fees button > Fee ID expansion button > Accounts
button
(IMAGE PACFEE2.jpg)
account number that you’ve specified for the customer, contract, project, or fee.
Specify account segment numbers to use when posting

amounts for a contract
You can specify the account segment numbers to use for posting accounts when
posting transactions for an individual contract.
An account segment is the portion of the account format that can be used to
represent a specific aspect of a business. For example, accounts can be divided into
segments that represent business locations, divisions, or profit centers.
An account segment number can represent a particular area of a business or an

account category. Using account 01-200-1100, for example, account segment
number 01 might represent a particular site, 200 might represent a department
located at that site, and 1100 might represent the Cash account for that site and
that department. To use specific account segment numbers to identify when
amounts are posted to the Cash account for individual contracts handled by a
specific department, for example, you might specify that 201 represents the first
contract for a department and 202 the second contract.
Names can be entered for each account segment number to appear on General
Ledger reports. Use the Account Format Setup window (Microsoft Dynamics GP
menu > Tools > Setup > Company > Account Format) to enter names for account
segments and to modify the account format.
1. Open the Account Segment Overrides window. Cards > Project > Contract > Sub
Acct Format expansion button
(IMAGE PACSEG.jpg)
1. For each account segment in the scrolling window, you can enter the account
segment number to use when posting amounts for the contract.
2. Select the posting accounts that the account segment numbers will be used for
and Click OK.
Specify account segment numbers to use when posting

amounts for a project
You can specify the account segment numbers to use for posting accounts when
posting transactions for an individual project.
An account segment is the portion of the account format that can be used to
represent a specific aspect of a business. For example, accounts can be divided into
segments that represent business locations, divisions, or profit centers.
An account segment number can represent a particular area of a business or an

account category. Using account 01-200-1100, for example, account segment
number 01 might represent a particular site, 200 might represent a department
located at that site, and 1100 might represent the Cash account for that site and
that department. To use specific account segment numbers to identify when

amounts are posted to the Cash account for individual projects handled by a
specific department, for example, you might specify that 201 represents the first
project for a department and 202 the second project.
Names can be entered for each account segment number to appear on General
Ledger reports. Use the Account Format Setup window (Microsoft Dynamics GP
menu > Tools > Setup > Company > Account Format) to enter names for account
segments and to modify the account format.
Open the Account Segment Overrides window. Cards > Project > Project > Sub
Acct Format expansion button
1. For each account segment in the scrolling window, you can enter the account
segment number to use when posting amounts for the project.
2. Select the posting accounts that the account segment numbers will be used for
and Click OK.
Chapter 2: Posting control

about how to create batches for transactions, how to review and modify posting
account distributions for transactions in batches, and how to post batches.
Manually create a batch for transactions
Review and modify posting account distributions for transactions
Post batches
Manually create a batch for transactions
You can create batches manually for grouping cost, return from project, billing, and
revenue recognition transactions. You can save transactions in batches and then
post the entire batch of transactions at once.
Batches that you create manually in Project Accounting always use the Single Use
frequency, meaning the batch is used once and is deleted after the batch is posted.
You can use billing cycles and revenue recognition cycles to create batches of billing
and revenue recognition transactions. For more information, see Use a revenue
recognition cycle to generate revenue recognition transactions and Use a billing cycle
to generate billing invoices of the Project Accounting Billing Guide.
1. Open a batch entry window.
Transaction Window Choose
Timesheets Timesheet Batch Entry Transactions > Project > Timesheet

Batches
Employee expense Employee Expense Batch Transactions > Project > Employee
transactions Entry Expense Batches
Equipment logs Equipment Log Batch Transactions > Project > Equipment Log
Entry Batches
Miscellaneous logs Miscellaneous Log Batch Transactions > Project > Miscellaneous
Entry Log Batches
Inventory transfers Inventory Transfer Batch Transactions > Project > Inventory
Entry Batches
Return from project Return From Project Transactions > Project > Returns from
transactions Batch Entry Project Batches
Billing invoices and Billing Batch Entry Transactions > Project > Billing > Billing
billing returns Batches
Revenue recognition Revenue Recognition Transactions > Project > Billing > Revenue
transactions Batch Entry Recognition Batches
1. Enter a batch ID and comment. The comment is the reference for the batch in
General Ledger.
2. If you selected Posting Date From: Batch in the Posting Setup window (Microsoft
Dynamics GP menu > Tools > Setup > Posting > Posting), enter a posting date
for the batch.
3. If the batch is for employee expense transactions or billing invoices or returns,

select the checkbook for the batch.
4. In the Control column, you can enter the minimum number of transactions or the
minimum total amount that must be entered in the batch before you can post the
batch.
5. Click Transactions to open the transaction entry window, where you can enter
transactions for the batch.
6. Click Save and close the window to save the batch.
7. Before you post the batch, you can print an edit list to review the transactions in
the batch.
8. Click Post to post the batch.
9. Close the window.
Review and modify posting account distributions for transactions
You can print an edit list to review posting account distributions for transactions in
a batch. You also can modify distributions before posting the batch.
See Manually create a batch for transactions and Use a revenue recognition cycle to
generate revenue recognition transactions , and also Use a billing cycle to generate
billing invoices in the Project Accounting Billing Guide for more information.
1. Open a batch entry window.
Timesheets Timesheet Batch Entry Transactions > Project > Timesheet

Batches
Employee expense Employee Expense Batch Transactions > Project > Employee
transactions Entry Expense Batches
Equipment logs Equipment Log Batch Transactions > Project > Equipment Log
Entry Batches
Miscellaneous logs Miscellaneous Log Batch Transactions > Project > Miscellaneous
Entry Log Batches
Inventory transfers Inventory Transfer Batch Transactions > Project > Inventory
Entry Batches
Return from project Return From Project Transactions > Project > Returns from
transactions Batch Entry Project Batches
Billing invoices and Billing Batch Entry Transactions > Project > Billing > Billing
billing returns Batches
Revenue recognition Revenue Recognition Transactions > Project > Billing > Revenue
transactions Batch Entry Recognition Batches
1. Enter the batch ID to review transactions for.
2. Click Transactions to open the transaction entry window.
3. Click the printer button to print a transaction edit list. The edit list will include
information about posting account distributions for transactions in the batch.
4. In the transaction entry window, click Distributions to open the distributions entry
window for the transaction that is displayed.
5. In the distributions entry window, the scrolling window will display how amounts
have been distributed for the transaction, based on your posting setup. See
Chapter 1, “Posting setup,” for more information.
6. You can change the debit or credit amounts for the accounts.
7. You can select additional accounts to enter distributions for, or select a line item
and choose Edit > Delete Row to delete the line item. Click Default to restore
distributions to the way they were before you opened the window and made
changes.
8. Click OK. The distribution entry window will close.
9. In the transaction entry window, use the browse buttons to view information for
other transactions in the batch. Click OK to close the transaction entry window.
Post batches
You can post multiple batches of transactions at once, including batches of cost,
billing, and revenue recognition transactions. See Manually create a batch for
transactions and Use a revenue recognition cycle to generate revenue recognition

transactions, and also Use a billing cycle to generate billing invoices in the Project
Accounting Billing Guide for more information.
You also can use the Project Series Posting window to post batches of transactions
that were entered using Personal Data Keeper or Time and Expense for Microsoft
Dynamics GP Business Portal, and then processed using Personal Data Keeper. See
the Personal Data Keeper and Time and Expense documentation for more
information.
1. Open the Project Series Posting window. Transactions > Project > Series Post
(IMAGE PACPOST.jpg)
1. In the Status column, select the batches to post. You can select a batch and click
the Batch ID link to view more information about the batch and then Click Post.
Part 2: Revenue recognition

This part of the documentation includes information for an accounting manager
about how to create and use revenue recognition cycles to recognize revenue for
multiple customers, contracts, and projects at once. It also includes information
about how to modify revenue recognition transactions before posting and about
how revenue is calculated for recognition.
Chapter 3, “Revenue recognition setup,” includes information about how to grant

users permission to various data entry options for revenue recognition
transactions and how to create revenue recognition cycles so that you can
recognize revenue for multiple customers, contracts, and projects at one time.
Chapter 4, “Revenue recognition transactions,” includes information about how to

use a revenue recognition cycle to generate a batch of revenue recognition
transactions and how to modify those transactions before posting. It also includes
information about how revenue is calculated for recognition.
Chapter 3: Revenue recognition setup

about how to grant users permission to various data entry options for revenue
recognition transactions and how to create revenue recognition cycles so that you
can recognize revenue for multiple customers, contracts, and projects at one time.
The following topics are discussed:
Grant revenue recognition transaction entry permissions
Create a revenue recognition cycle record
Grant revenue recognition transaction entry permissions
You can grant all users permission to various data entry options for revenue
recognition transactions. You also can require a password for each data entry
option to limit user access.
1. Open the Revenue Recognition Setup Options window. Microsoft Dynamics GP

menu > Tools > Setup > Project > Billing > RR Options button
2. Select the data entry tasks to grant permission for and Click OK.
Override Document Number Allow users to modify the document number for a
revenue recognition transaction.
Override Recognized Revenue Amount Allow users to modify the amount of

revenue to recognize in the To Recognize field in the Revenue Recognition Entry
per Budget Item window and the Revenue Recognition
Entry per Fee Item window. See Specify revenue to recognize for cost categories in a
project budget and Specify revenue to recognize for fees for more information.
Create a revenue recognition cycle record
You can create a revenue recognition cycle so that you can recognize revenue for
multiple customers, contracts, and projects at one time. Revenue recognition is for
Cost Plus and Fixed Price projects, and for Service fees used in Time and Materials
projects.
Customers You can assign revenue recognition cycles to customers and customer
classes when you set them up for billing. See Set up a customer class for billing and
Set up a customer record for billing in the Project Accounting Billing Guide for more
information.
Contracts You can assign revenue recognition cycles to contracts when you set
them up for billing. See Specify billing settings for a contract in the Project
Projects You can assign revenue recognition cycles to projects when you set them
up for billing. See Specify billing settings for a project in the Project Accounting Cost
Management Guide for more information.
1. Open the RR Cycle Maintenance window. Cards > Project > Revenue Recognition
Cycle
2. In the RR Cycle ID field, enter an alphanumeric name to identify the revenue

recognition cycle.
3. Enter a description and Click OK.
Chapter 4: Revenue recognition transactions

about how to use a revenue recognition cycle to generate a batch of revenue
recognition transactions and how to modify those transactions before posting. It
also includes information about how revenue is calculated for recognition.
The following topics are discussed:
Accounting methods and recognizing revenue
Percentage complete and revenue recognition calculations
Use a revenue recognition cycle to generate revenue recognition transactions
Enter or modify a revenue recognition transaction
Specify revenue to recognize for cost categories in a project budget
Specify revenue to recognize for fees
Accounting methods and recognizing revenue
Revenue is recognized for a project based on the accounting method used for the
project. You must select the default accounting method to use for new projects in a
contract, and you can select the accounting method to use for individual projects.
See Create a contract record and Create a project record in the Project Accounting
Cost Management Guide for more information.
Completed
Revenue is recognized for a Cost Plus or Fixed Price project that uses the
Completed accounting method when the project status has been changed to
Completed for all projects in the contract that the project is for. The Project
Revenue account will be updated on the Profit and Loss Statement.
Cost-to-Cost
Revenue is recognized for a Cost Plus or Fixed Price project that uses the Cost-
toCost accounting method when you post revenue recognition transactions for the
project. Revenue will be determined by comparing total actual project costs to total
forecast project costs. See Percentage complete and revenue recognition calculations
for more information.
Effort-Expended
EffortExpended accounting method when you post revenue recognition
transactions for the project. Revenue will be determined by comparing total actual
project quantities to total forecast project quantities. See Percentage complete and
revenue recognition calculations for more information.
Effort-Expended Labor Only
EffortExpended Labor Only accounting method when you post revenue
recognition transactions for the project. Revenue will be determined by comparing
total actual time quantities entered on timesheets to total forecast time quantities
for the project. See Percentage complete and revenue recognition calculations for
more information.
When Billed
Revenue is recognized for a Time and Materials project that uses the When Billed
accounting method when you post a billing invoice for the project. The Cost of
Goods Sold account will be updated on the Profit and Loss Statement and the Work
In Progress account will be updated on the Balance Sheet.
When Performed
Revenue is recognized for a Time and Materials project that uses the When
Performed accounting method when you post a cost transaction for the project.
The Cost of Goods Sold account will be updated on the Profit and Loss Statement.
Percentage complete and revenue recognition calculations
The amount of revenue that you will recognize for a Cost Plus or Fixed Price project
and for the contract that the project is for depends on how you’ve selected to
calculate revenue.
The default method for recognizing revenue is to recognize revenue based on the
percentage complete calculation for individual cost categories in a project budget.
This is the Segmented revenue recognition calculation method.
The percentage that a cost category is complete is based on the actual total costs
incurred for the cost category divided by the forecast budgeted costs for the cost
category. For example, if you have forecasted that you will spend $10,000 on
outsourced administrative costs for a project and you have spent $7,500 to date,
the percentage complete is 75%.
However, you can recognize revenue for a project based on the average percentage
complete calculation for all cost categories in the project budget. You can select
Combine for Revenue Recognition in the Project Maintenance window to indicate
that you will recognize revenue for the project in this way. This is the Combined
from Project revenue recognition calculation method. See Create a project record in
the Project Accounting Cost Management Guide for more information.
You also can recognize revenue for a contract based on the average percentage
complete calculation for all projects in the contract. You can select Combine for
Revenue Recognition in the Contract Maintenance window to indicate that you will
recognize revenue for the contract in this way. This is the Combined from Contract
revenue recognition calculation method. See Create a contract record in the Project
Use a revenue recognition cycle to generate revenue recognition

transactions
You can use a revenue recognition cycle to generate a batch of revenue recognition
transactions to recognize revenue for multiple customers, contracts, and projects at
one time. See Create a revenue recognition cycle record for more information.
Revenue recognition is for Cost Plus and Fixed Price projects, and for Service fees
used in Time and Materials projects.
You can generate revenue recognition transactions for Open, Completed, or Closed
contracts and projects. See Contract, project, and cost category statuses in the
Project Accounting Cost Management Guide for more information.
1. Open the RR Cycle Batch Processing window. Transactions > Project > Billing >
Cycle Revenue Recognition
A screenshot of a cell phone Description automatically generated
(IMAGE PACRR.jpg)
1. Enter or select a batch ID. See Manually create a batch for transactions for more
information.
2. Select a revenue recognition cycle.
3. You can modify the revenue recognition transaction date and cutoff date. Revenue
recognition transactions will be created for project costs and fees with dates on or
before the cutoff date.
4. Select Create RR even w/o Earnings and BIEE/EIEB to generate revenue

recognition transactions for projects that have billings in excess of earnings (BIEE)
or earnings in excess of billings (EIEB) and have no revenue to recognize.
5. You can modify the path name where the log file will be saved after you generate
revenue recognition transactions. The log file will list any errors that are
encountered. See Configure general settings for billing customers in the Project
Accounting Billing Guide for more information.
6. In the One Transaction Per options, specify whether to generate one revenue
recognition transaction per customer, contract, or project. The option that you
select also will limit revenue recognition to the customers, contracts, or projects
that are assigned to the revenue recognition cycle and Click Process.
Enter or modify a revenue recognition transaction

You can enter a revenue recognition transaction manually. However, we

recommend that you use a revenue recognition cycle to generate a batch of
revenue recognition transactions for you. After the batch of revenue recognition
transactions has been generated, you can modify the transactions, as necessary. See
Use a revenue recognition cycle to generate revenue recognition transactions for
more information.
The data that you can enter depends on the permissions that you’ve been granted.
See Grant revenue recognition transaction entry permissions for more information.
Revenue recognition is for cost categories and Project fees for Cost Plus and Fixed
Price projects, and for Service fees used in Time and Materials projects. You can
recognize revenue for Open, Completed, or Closed contracts and projects. See
Contract, project, and cost category statuses in the Project Accounting Cost
The amount of revenue that you will recognize for a project depends on how you’ve
selected to calculate revenue for the project and the percentage complete
calculation for individual cost categories in the project budget. See Percentage
complete and revenue recognition calculations for more information.
You can use the Revenue Recognition Inquiry window (Inquiry > Project > PA
Transaction Documents > Revenue Recognition) to view posted or saved revenue
recognition transactions.
1. Open the Revenue Recognition Entry window. Transactions > Project > Billing >
Revenue Recognition
A screenshot of a cell phone Description automatically generated
(IMAGE PACRRE2.jpg)
1. Enter a document number and date.
2. You can enter a cutoff date. Revenue will be recognized for project costs and fees
with dates on or before the cutoff date.
3. Select the customer for the projects that you’re recognizing revenue for.
4. Enter or select a batch ID. See Use a revenue recognition cycle to generate revenue
recognition transactions and also Manually create a batch for transactions for more
information.
5. In the scrolling window, select the projects to recognize revenue for, or select All
Projects to display all projects for the customer. You can select a project and
choose Edit > Delete Row to delete the project from the scrolling window.
6. You can select a project and click the Project No. expansion button to open the
Revenue Recognition More Info window to view actual costs and earned, and
recognized revenue for the project.
The calculations displayed in the FORMULAS USED part of the Revenue Recognition
More Info window are only for projects that use Cost-to-Cost accounting method.
1. Revenue will be recognized for all cost categories and fees for a project. However,
you can specify the revenue to recognize for individual cost categories or fees.
Select a project and click the Budget expansion button to specify the
revenue to recognize for individual cost categories in the project budget. See
Specify revenue to recognize for cost categories in a project budget for more
information.
Select a project and click the Fees expansion button to specify the revenue to
recognize for individual fees assigned to the project. See Specify revenue to
recognize for fees for more information.
You can click Recognize All to recognize revenue for all projects listed in the scrolling
window using all cost categories and fees for the projects. Amounts in the To
Recognize columns will be updated. You also can click Do Not Recognize All to reduce
amounts in the To Recognize columns to zero. If you modify the cutoff date, modify
forecast cost or billing amounts for a project, or change a project status, you can click
Recalculate to recalculate revenue for all projects listed in the scrolling window.
1. Click Distribution to modify the allocation of transaction amounts to specific

posting accounts. See Review and modify posting account distributions for
transactions for more information.
2. If the transaction is in a batch, click Save. Otherwise, click Post.
Specify revenue to recognize for cost categories in a project

budget
You can specify the revenue to recognize for individual cost categories in a project
budget. Revenue recognition is for cost categories in Cost Plus and Fixed Price
project budgets. See Enter or modify a revenue recognition transaction for more
information.
You can recognize revenue for Open, Completed, or Closed contracts and projects.
See Contract, project, and cost category statuses in the Project Accounting Cost
The amount of revenue that you will recognize for a cost category depends on how
you’ve selected to calculate revenue for the project and the percentage complete
calculation for individual cost categories in the project budget. See Percentage
complete and revenue recognition calculations for more information.
1. Open the Revenue Recognition Entry per Budget Item window. Transactions >
Project > Billing > Revenue Recognition > Budget expansion button
(IMAGE PACRRBUG.jpg)
1. Select the cost transactions to display cost categories for in the scrolling window.
Click Redisplay to update the scrolling window.
2. In the To Recognize column, modify the amount of revenue to recognize for a cost
category and Click OK.
You can click Recognize All to recognize revenue for all cost categories listed in the
scrolling window. Amounts in the To Recognize column will be updated. You also can
click Do Not Recognize All to reduce amounts in the To Recognize column to zero.
Specify revenue to recognize for fees
You can specify the revenue to recognize for individual fees assigned to a project.
Revenue recognition is for Project fees for Cost Plus and Fixed Price projects, and
for Service fees used in Time and Materials projects.
You can recognize revenue for Open, Completed, or Closed contracts and projects.
See Contract, project, and cost category statuses in the Project Accounting Cost
1. Open the Revenue Recognition Entry per Fee Item window. Transactions > Project
> Billing > Revenue Recognition > Fee expansion button
2. Select whether to display Project or Service fees in the scrolling window. Click
Redisplay to update the scrolling window.
3. In the To Recognize column, modify the amount of revenue to recognize for a fee
and Click OK.
You can click Recognize All to recognize revenue for all fees listed in the scrolling
window. Amounts in the To Recognize column will be updated. You also can click Do
Not Recognize All to reduce amounts in the To Recognize column to zero.
Part 3: Reports and utilities

about reports in Project Accounting and how to create, group, and print them. It
also includes information about how to enter adjusting transactions to reverse and
correct cost transaction line item entries, and how to delete posted cost and billing
transactions and Closed contracts. The documentation also includes information
about how to use various accounting utilities.
Chapter 5, “Reports,” includes information about how to create, group, and print
reports. It also includes information about the various reports in Project
Accounting.
Chapter 6, “Adjusting transactions,” includes information about how to enter

adjusting transactions to reverse—or to reverse and correct—line item entries on
posted timesheets, employee expense transactions, equipment logs, or
miscellaneous logs.
Chapter 7, “Transaction and record deletion,” includes information about how to

delete posted cost and billing transactions, and how to delete Closed contracts.
Chapter 8, “Accounting utilities,” includes information about how to use various

utilities to clear paid billing invoices from lookup windows, recalculate project
budget totals by fiscal period, and delete project budget totals that aren’t within
fiscal years.
Chapter 5: Reports
about how to create, group, and print reports. It also includes information about
the various reports in Project Accounting.
Create and print report options
Create report groups
Report destinations and formats
Reports list
Project Accounting standard reports
Project Accounting Microsoft SQL Server Reporting Services reports
Create and print report options
Before you can print most Project Accounting reports, you need to specify a report
option. A report option is a set of saved parameters for a particular report that you
can use to print the report, rather than reenter each parameter. A typical report
option specifies information about sorting, restriction, printing, and the type of
information to display on the report. You can create 32 report options.
1. Open a reports window. For this example, use a Project Maintenance report.
Reports > Project > Maintenance
2. Select a report type from the drop-down list. For this example, select Customer
List.
3. Click New, or highlight a report option and click Modify to set up the report
parameters. For this example, click New; the Project Maintenance Report Options
window opens.
Each report option window contains different selections, appropriate to the type of
information available to display on the report.
1. Specify a name for the option.
2. Specify a sorting method and items to include or exclude.
3. To enter a range, select a type of information from the Ranges list, and then enter
the beginning of the range in the From field and the end of the range in the To
field.
4. Click Insert to add the range to the Restrictions list. Specify additional ranges, if
necessary. The report will contain only records that include data within the range
selected.
You can create only one restriction for each type of information. For example, if you
enter a restriction to print records for the first five of 25 users, you can’t enter another
restriction to print records for the last 10 users.
1. To select printing destinations, click Destination. Reports can be printed to the

screen, to the printer, to a file, or to any combination of these options. If you mark
Ask Each Time, you can select printing options each time you print this report
option.
If you mark File, you can specify a file name and format, and whether to replace any
previous versions of the file, or append new information to an existing file. for more
information, see Report destinations and formats.
1. Save the destination information and the report option, and return to the original
report window.
2. Select the report option and click Insert.
3. Click Print.
Create report groups
You can use report groups to print a group of report options in a single step.
Before completing this procedure, you must specify report options for the reports
in the group. For more information, see Create and print report options .
Only reports created using Microsoft Dynamics GP report options can be grouped.
Customized reports created using Report Writer or Crystal Reports can’t be added to
groups.
1. Open a report group window. Reports > Project > Groups
2. Select a report category and report.
3. To include a report option in a group, select the option and click Insert. You can
add up to 32 report options to a single group.
4. Click Save to save the group. If you’re saving a new report group, the Save
window will open, where you can specify a name for the group.
5. Click Print.
After you have created report groups, you can select them from the Project Group
list and click Print.
Report destinations and formats
You can print reports to a printer, the screen, a file, or a combination of these
destinations.
If you print to the printer, the report is printed to the default printer that’s been
set up for your operating system, unless the report has been assigned to a named
printer. Refer to the “Printers” chapter in the System Administrator’s Guide (Help >
Printable Manuals) for more information.
If you print to the screen, the report appears on the screen and you then can
choose to print to the printer. In addition, if you’re using an e-mail system that’s
compliant with MAPI (Microsoft’s Messaging Application Program Interface), you
can send any report that you print to the screen in an e-mail message.
If you print to a file, you can select a file format.
The following table lists more information about the file formats that you can select.
File format Description
Tab- The tab-separated ASCII character format used by spreadsheet programs, such as
delimited Microsoft Excel®.
Comma- The standard comma-separated ASCII character format used by database

delimited programs.
Text Text with no formatting. Use this option only if the application you’ll use to read
the report can’t read any other format.
HTML A format that can be viewed in a Web browser.
File format Description
XML Data A text file that contains an XML representation of the report layout and all the
report data. Choose this format if you want to process the report using an external
application.
Adobe PDF This format is available if you have the PDFWriter printer driver installed (included
with Acrobat 5 and earlier), or Acrobat Distiller from Acrobat 6 or later. PDF
(Portable Document Format) files can be read using Adobe Reader software
available from Adobe.
Word The Microsoft Office Open XML (.docx) file format used by Word 2007 or later. You
Document can select this format if you select Template as the report type.
You can select a printing destination in different ways, depending on which printing
method you use.
If you print a report by choosing File > Print or clicking Print while a window is
open, the Report Destination window appears, where you can select a destination.
(You can select a preferred default destination—Printer or Screen— in the User
Preferences window.)
You can select printing options and destinations for posting journals and other
reports in the Posting Setup window. You can select to be asked each time where a
specific report or journal should be printed to, or you can select specific printing
destinations to be used each time, such as to the screen, to a file, or to a printer.
For analysis, history, and setup reports and posting journal reprints, you select the
destination when you create the report options needed to print these reports.
Reports list
You can open the Report List window for Project Accounting by clicking the Project
button in the navigation pane and then clicking Report List. The reports list
contains reports, SmartList favorites, and custom reports.
Project Accounting standard reports
You can print various standard reports in Project Accounting, including trial balance,
employee utilization, cash budget, earned value analysis, performance, and billing
reports. You also can print statements and reports about change orders.
Trial balance
Use the PA Detailed Trial Balance Reports window (Reports > Project > Detailed
Trial Balance) to print a detailed trial balance, summary trial balance, or trial balance
worksheet. Trial balances are used to illustrate that debits equal credits for a range
of accounts.
To print a detailed trial balance, you must select the Create a Journal Entry Per
Transaction option for the Project series in the Posting Setup window (Microsoft
Dynamics GP menu > Tools > Setup > Posting > Posting). See the System Setup
documentation (Help > Printable Manuals) for more information.
Employee utilization
Use the Employee Utilization Report Options window (Reports > Project >
Employee Utilization) to print utilization reports that list the billable and
nonbillable time, rates, and billing amounts for employees in a given year, month,
or the year to-date.
Report Description
Annual Employee A list of billable and non-billable time, rates, and billing amounts for
Utilization employees in a given year.
Annual Utilization- A list of billable and non-billable time, rates, and billing amounts for
Department employees in a given year by department.
Annual Utilization- A list of billable and non-billable time, rates, billing amounts, percentage
Position of utilization, and realization. This report sorts the employees by their
positions.
Monthly Employee A list of billable and non-billable time, rates, and billing amounts for
Utilization employees in a given month.
Monthly Utilization- A list of billable and non-billable time, rates, and billing amounts for
Department employees in a given month by department.
Monthly Utilization- A list of billable and non-billable time, rates, and billing amounts for
Position employees in a given month by position.
YTD Employee A list of billable and non-billable time, rates, and billing amounts for
Utilization employees in a given year to date.
Report Description
YTD Utilization- A list of billable and non-billable time, rates, and billing amounts for
Department employees in a given year to date by department.
YTD Utilization- A list of billable and non-billable time, rates, and billing amounts for
Position employees in a given year to date by position.
Cash budget
Use the Budget Report Options window (Reports > Project > Budget) to print a
cash budget report for your company, customer, contract, or project for the fiscal
period that you select.
Earned value analysis
Use the Project Status Report Options window (Reports > Project > Project Status)
to print an earned value analysis report to view a measurement of project
performance. Earned value measures the cost of work performed and whether the
actual costs incurred are on budget.
Statements
Use the Statement Report Options window (Reports > Project > Statement) to
print statements for customers. The statements will include a summary of accounts
receivable information.
Performance
Use the Performance Report Options window (Reports > Project > Performance) to
print reports that list work in progress and also contract revenue and write-down
amounts. You also can print a report listing Closed contracts.
| Report | Description | | Aged Work-In-Progress List | Work in progress for all aging
periods and the balances or work in progress for each customer for each period. | |
Aged Work-In-Progress | Work in progress for all aging periods and the balances or
work in progress for each project for each period. | | Aged Work-In-Progress | Work in
progress for all aging periods and the balances or work in progress for each contract for
each period. | | Aged Work-In-Progress | Work in progress for all aging periods and the
balances or work in progress for each cost category in project budgets for each period. |
| Fee List - Project | A list of all fees for all projects for each customer. | | Invoice Register
| Lists all billing invoices that have been posted in Accounts Receivables for the current
period. | | Pre-Billing Worksheet - CP/FP | A list of pre-billing worksheets for Cost Plus or
Fixed Price projects. You can print two types of pre-billing worksheets: in process, or
those that include saved billing invoices and billable, or those that include all billing
invoices. | | Pre-Billing Worksheet - TM | A list of pre-billing worksheets for Time and
Materials projects. You can print two types of pre-billing worksheets: in process, or
those that include saved billing invoices and billable, or those that include all billing
invoices. | | Retention - Customer | A list of Retentions fee amounts for contracts for
specified customers. | | Retention - Project | A list of Retentions fee amounts for each
contract for the company. | | Work in Progress | A list of projects in progress. |
Project Accounting Microsoft SQL Server Reporting

Services reports
You can view Project Accounting Reporting Services reports from the Reporting
Services Reports list. You can access the Reporting Services Reports list from the
navigation pane or from an area page in the Microsoft Dynamics GP application
window. This report list appears if you specified the location of your Reporting
Services reports using the Reporting Tools Setup window. See your System Setup
Guide (Help >> Contents >> select Setting up the System) for more information.
The following Reporting Services reports are available for Project Accounting.
Trial balance
Report name Description
Project Accounting Aged Provides a receivables aged trial balance for selected projects.
Trial Balance
Project Accounting Detail Displays General Ledger account balances and all transactions that
Trial affect each account for the period that you specified.
Balance
Employee utilization
Monthly Employee Utilization Displays utilization by a single employee or by multiple

by Employee employees as of a certain date.
Project status
Project Accounting Closed Provides details on closed projects.

Projects
Project Accounting Profit Provides the profit and loss for a project or range of projects during
and Loss a selected period of time.
Project Cost Breakdown Details the costs associated with a project.
Billing
Pre-Billing Worksheet - CP/FP Displays a pre-billing worksheet for Cost Plus/Fixed Price type
(Billable) projects that are billable.
Pre-Billing Worksheet - CP/FP Displays a pre-billing worksheet for Cost Plus/Fixed Price type
(In Process) projects that are in process.
Pre-Billing Worksheet - Fee Displays a pre-billing worksheet for Time and Material type
(Billable) projects that are billable.
Pre-Billing Worksheet - T&M Displays a pre-billing worksheet for Time and Materials type
(Billable) projects that are in process.
Pre-Billing Worksheet - T&M Displays a pre-billing worksheet for Cost Plus/Fixed Price type
(In Process) projects that are in process.
Performance
Project Accounting Unbilled Compares the project retainer against the charged expenses
Expense vs Retainer and the retainer balance for a project.
Project Accounting Revenue Displays the revenue recognition transactions for a project.
Recognition Transactions
Project Accounting Budget vs. Provides the ability to group budget and actual expenditures
Actual with Variance for a project for selected cost categories and time period.
Project Accounting Combined Displays transaction details for cost transactions of any project
History Report or range of projects.
Projects in Progress Lists the projects in process for a selected range.
To print a Project Accounting Reporting Services report

1. In the navigation pane, choose the Project button, and then choose the Reporting
Services Reports list.
2. Mark the report that you want to print.
3. In the Actions group, choose View to open the Report Viewer.
4. In the Report Viewer, select the specifications for the report and choose View
Report.
5. After viewing the report, select a format and print the report.
Chapter 6: Adjusting transactions

about how to enter adjusting transactions to reverse—or to reverse and correct—
line item entries on posted timesheets, employee expense transactions, equipment
logs, or miscellaneous logs.
You can’t adjust original entries for transactions that previously have been reversed
or reversed and corrected.
Exceed total cost, quantity, or revenue on adjusting transactions
Reverse cost transaction line items
Reverse and correct cost transaction line items
Exceed total cost, quantity, or revenue on adjusting transactions
You can’t post adjusting transactions if one or more of the following criteria are
true.
The total cost for the adjusting transaction exceeds the total cost specified for the
cost category in the project budget and Exceed Total Budget Costs isn’t selected
in the Timesheet Setup Options window, Employee Expense Setup Options
window, Equipment Log Setup Options window, or Miscellaneous Log Setup
Options window.
The total quantity for the adjusting transaction exceeds the total quantity specified
for the cost category in the project budget and Exceed Total Budget Quantity isn’t
selected in the Timesheet Setup Options window, Employee Expense Setup
Options window, Equipment Log Setup Options window, or Miscellaneous Log
Setup Options window.
An amount on the adjusting transaction exceeds the total revenue specified for
the cost category in a Time and Materials project budget and Exceed Total
Budget Revenue/Profit isn’t selected in the Timesheet Setup Options window,
Employee Expense Setup Options window, Equipment Log Setup Options window,
or Miscellaneous Log Setup Options window.
If you’re permitted to exceed total cost, quantity, or revenue for a cost category in a
project budget and you’re required to enter a password for the permission, you
must enter the password to post the adjusting transaction.
See Grant cost transaction data entry permissions in the Project Accounting Cost
Reverse cost transaction line items
You can create adjusting transactions to reverse line items entered on timesheets,
employee expense transactions, equipment logs, or miscellaneous logs.
1. Open a window to select cost transaction line items for adjustment.
2. Select the line items to display. Click Redisplay.
3. Select one or more line items and click Reverse to open the adjustment entry
window.
4. In the adjustment entry window, you can modify the document date for the
adjusting transactions that will be created.
5. You can enter a batch ID to save the adjusting transactions in a batch. Click Save
to save the batch. Otherwise, click Post.
Reverse and correct cost transaction line items
You can create adjusting transactions to reverse and correct line items entered on
timesheets, employee expense transactions, equipment logs, and miscellaneous
logs.
1. Open a window to select cost transaction line items for adjustment.
2. Select the line items to display. Click Redisplay.
3. Select one or more transaction line items and click Correct to open the adjustment
entry window.
4. In the adjustment entry window, you can modify the document date for the
adjusting transactions that will be created.
5. Enter a batch ID to save the adjusting transactions in a batch.
6. You can select the project that the adjusting transactions are for, or select Use
<None> Project to indicate that the transactions aren’t for a specific project.
7. You can select the cost category that the adjusting transactions are for. Select
Allow Add Access on the Fly to add the cost category to project budgets if you’re
not using the cost category in those budgets already.
8. For the unit cost, overhead amount or percentage, billing type, and billing rate or
markup percentage, you can select Update to update amounts using current
budget settings or select Override to enter specific amounts or percentages.
9. Click Save to save the batch or click Post to post the transactions.
If you’re not permitted to exceed total cost, quantity, or revenue for a cost category in
a project budget, you can’t post the adjusting transaction. See Exceed total cost,
quantity, or revenue on adjusting transactions for more information.
Chapter 7: Transaction and record deletion**

about how to delete posted cost and billing transactions, and how to delete Closed
contracts.
Delete Closed contracts
Delete posted cost transactions
Delete posted billing invoices and returns
Delete Closed contracts
You can delete Closed contracts.
1. Open the Mass Contract Delete window. Microsoft Dynamics GP menu > Tools >
Utilities > Project > Mass Contract Delete
2. Select a range of contracts to delete. Select Print Deleted Contracts to print a

report listing the contracts that were deleted after you delete them and Click OK.
Delete posted cost transactions
You can delete posted timesheets, employee expense transactions, equipment logs,
miscellaneous logs, and inventory transfers.
1. Open the Remove Cost History window. Microsoft Dynamics GP menu > Tools >
Utilities > Project > Remove Cost History
2. Select a range of contracts or projects or a range of dates to delete posted

transactions for. Select the type of transactions to delete.
3. Select Print Report to print a list of the transactions that were deleted after you
delete them and Click OK.
Delete posted billing invoices and returns
You can delete posted billing invoices and returns.
1. Open the Remove Billing History window. Microsoft Dynamics GP menu > Tools
> Utilities > Project > Remove Billing History
2. Select a range of contracts or projects or a range of dates to delete posted billing

transactions for.
3. Select Print Report to print a list of the transactions that were deleted after you
delete them and Click OK.
Chapter 8: Accounting utilities

about how to use various utilities to clear paid billing invoices from lookup
windows, recalculate project budget totals by fiscal period, and delete project
budget totals that aren’t within fiscal years.
Clear paid billing invoices from lookup windows
Recalculate project budget totals by fiscal period
Delete project budget totals that aren’t within fiscal years
Clear paid billing invoices from lookup windows
You can clear paid billing invoices from lookup windows.
1. Open the Paid Transaction Removal window. Microsoft Dynamics GP menu >
Tools > Routines > Project > Paid Transaction Removal
2. Select a range of customers to clear paid billing invoices for. You can limit the
range of customers to a range of customer classes.
3. Select Print Register to print a list of the paid billing invoices that were cleared
after you clear them.
4. You can enter a cutoff date. Only transactions with a document date on or before
the cutoff date will be cleared and Click Process.
Recalculate project budget totals by fiscal period
You can recalculate project budget totals by fiscal period. See Modify project budget
amounts for a cost category by fiscal period in the Project Accounting Cost
1. Open the Recreate Periodic window. Microsoft Dynamics GP menu > Tools >
Utilities > Project > PA Recreate Periodic
2. Select the customers that you’re recalculating project budget totals for.
3. Select Recreate Periodics.
4. Select Print Report to print a list of the projects that you recalculated budget
totals for after you recalculate them.
5. Click Process.
6. Click Done.
Delete project budget totals that aren’t within fiscal years
You can delete project budget totals that aren’t within fiscal years if, for example,
you mistakenly entered a transaction using a date that isn’t within the fiscal years
that you’ve set up. See Modify project budget amounts for a cost category by fiscal
period in the Project Accounting Cost Management Guide for more information.
1. Open the Recreate Periodic window. Microsoft Dynamics GP menu > Tools >
Utilities > Project > PA Recreate Periodic
2. Select the customers that you’re deleting project budget totals for.
3. Select Delete Periodic Records Outside Fiscal Years.
4. Select Print Report to print a list of the projects that you deleted budget totals for
after you delete them. Click Process and then Click Done.
Glossary
access list
An employee access list or an equipment access list. The list of employees who can
enter transactions for a specific project, or the list of equipment that can be used
when entering equipment log transactions for a specific project.
account
The type of record—asset, liability, revenue, expense or owner’s equity—

traditionally used for recording individual transactions in an accounting system.
account balance
The difference between the debit amount and the credit amount of an account.
account format
The structure defined for account numbers, including the number of segments in
the format and the number of characters in each segment.
account number
The identifying alphanumeric characters that have been assigned to an account.
account segment
A portion of the account format that can be used to represent a specific aspect of a
business. For example, accounts can be divided into segments that represent
business locations, divisions, or profit centers.
account segment number
A number that represents a particular area of a business or an account category.

Using account 01-200-1100, for example, account segment number 01 might
represent a particular site, 200 might represent a department located at that site,
and 1100 might represent the Cash account for that site and that department.
Descriptions can be entered for each account segment number and appear on
General Ledger reports.
accounting method
A method used to calculate revenue for a project or contract. Accounting methods

include: Completed, Cost-to-Cost, EffortExpended, Effort-Expended Labor Only,
When Billed, and When Performed.
accrued revenue
Revenue that has been earned for actual project costs, but not collected. For Time
and Materials projects, accrued revenue is based on forecast billing amounts for
both saved and posted cost transactions. For Cost Plus and Fixed Price projects,
revenue is accrued when you recognize revenue.
active employee
An employee whose records are active and that you can include in transactions that
require employee IDs.
actual
A project budget amount that represents cost and billing amounts based on the
transactions that you’ve entered. You can use actual amounts to measure project
performance against forecast and baseline budget amounts.
adjusting transaction
A transaction that you can enter to reverse— or to reverse and correct—line item
entries on posted timesheets, employee expense transactions, equipment logs, or
miscellaneous logs.
adjustment
Increases or decreases to inventory quantities based on receivings or allocations.
age
To subtract the document date from the date you’re aging from to determine the
age of the document.
aging
The process that determines the maturity of a document or account, or the number
of days that the document or account has been outstanding. Aging places each
transaction in the appropriate current or past-due aging category.
analysis
The process of evaluating the condition of an accounting record and possible

reasons for discrepancies.
applying
The process of linking the payment amount to amounts from one or more
documents that are being paid.
audit trail
A series of permanent records used to track a transaction to the point where it was
originally entered in the accounting system. The audit trail can be used to verify the
accuracy of financial statements by outside accountants or auditors.
bank card
A type of credit card whose payments may be treated as cash by the business
receiving the payment. Bank cards differ from charge cards, whose payments must
be collected from the company issuing the card before they can be considered
received.
base unit of measure
Typically, the smallest quantity on a Unit of Measure schedule in which items can be
bought or sold. The base unit of measure is common to all named quantities
entered for a Unit of Measure schedule. For example, for the item “soda,” the base
unit of measure might be “Can” because all the other units of measure are multiples
of a single can.
baseline
A project budget amount used as a basis for comparison to measure project

performance. Baseline amounts are entered to estimate cost and billing amounts
for a project. You can measure project performance by comparing forecast and
actual amounts against the baseline. Project managers typically refer to the cost
baseline, which is created during cost budgeting. Baseline amounts for billing also
are calculated in Project Accounting.
batch
A group of transactions identified by a unique name or number. Batches are used

to conveniently group transactions, both for identification purposes and to speed
the posting process.
batch posting
An option used to post a group of transactions identified by a unique name or

number.
begin date
The date that you can begin entering cost transactions using a specific cost
category in a project budget.
billable amount
An amount that you can bill customers for.
The default billing type for a cost category is STD, or Standard, meaning that
transaction amounts that you enter using the cost category will be billable.
billing
To generate and print invoices to charge customers for items or services that have
not been paid for.
billing currency
The currency used on a billing invoice.
billing cycle
A record that identifies when and how often to bill customers for projects. Billing
invoices can be generated using billing cycles.
billing discounts
A percentage that is deducted from the overall billing amount for a contract or
project.
billing format
A group of invoice formats that have been selected to be printed together when
billing customers.
billing frequency
The frequency that a billing cycle will be used to create billing invoices for a
customer.
billing invoice
A transaction that you can use to charge customers for items purchased and
services rendered for a project. Also refers to the document that you print to send
to the customer to bill them.
billing note
The information that you can type in the Billing Note window for contracts, projects,
cost categories, fees, and cost transactions that will appear on billing invoices. You
can click the billing note button adjacent to a field to enter a billing note.
billing rate
The amount that a customer is billed for a single unit quantity of an item or time.
billing return
A transaction that you can use to credit customers for amounts that have been
billed using a billing invoice. You only can enter billing returns to credit customers
for billed amounts for Time and Materials projects.
billing transaction
A billing invoice or billing return.
billing type
A selection that specifies whether and how a project cost will be billed. Billing types
include Standard, Non-billable, and No Charge. They are abbreviated STD, N/B, and
N/C.
business manager
A person who manages the business functions for a project, such as contracting,
planning, scheduling, budgeting, and so forth.
cash
Ready money or its equivalent that a bank will accept at face value. Cash includes
coins; paper money; certain deposited negotiable instruments such as checks, bank
drafts, and money orders; amounts in checking and savings accounts; and demand
certificates of deposit.
cash budget
A budget that presents expected cash flow— both in and out—for a designated
time period.
cash receipt
A document used to record payments and deposits received from customers.
change order
A transaction that you can use to modify project budgets and fee assignments and
to enter quote information for projects. Change order types include Internal,
Company, and Customer.
change order status
Indicates the progress of a change order.
Change order statuses include Approved, Canceled, Completed, Pending, and

Unapproved.
check
A written order on a bank to pay a sum of money from funds in an account. Checks
show the name of the company or individual receiving payment, the signature and
account number of the person issuing the check, the payment amount and the
current date. Checks usually are numbered in sequence.
checkbook
An account used to maintain a currency balance and to track cash that is received
and disbursed.
class
A group of records that share common characteristics.
close
To suspend or end cost accruals for a customer, contract, or project.
combined revenue
The result of adding together revenue from a group of projects within a contract, or
from separate cost categories within a project budget.
commission
The amount, usually a percentage of the sale amount, paid to the salesperson
making the sale.
contract
A group of projects that a contractor completes for a customer, and for which the
contractor bills the customer for various costs.
contract amount
The sum of the project amounts in a contract. The original contract amount is the
sum of the project amounts in the contract, not including change orders. The
revised contract amount is the sum of the project amounts in the contract,
including change orders. The contract amount also includes taxes, trade discounts,
freight, and miscellaneous charges.
contract class
A group of contracts. You can use contract classes to define parameters for
contracts within the group.
contract manager
The person who oversees all aspects of contract preparation and administration.
contract status
The progress of a contract. Contract statuses include Closed, Completed, Estimate,

On Hold, Open, and additional statuses that you can name.
contract template
A framework that contains information for creating a new contract record.
contract total
See contract amount.
cost category
The framework used to track and group expenses by kind for a project budget. You
must select the type of cost transaction that a cost category will be used for and
whether or not inventoried items will be used with the cost category.
cost category class
A group of cost categories. You can use cost category classes to define parameters
for cost categories within a group.
cost category status
The progress of a cost category in a project budget. Cost category statuses include
Closed, Completed, Estimate, On Hold, and Open.
cost description
A user-defined name for a cost transaction type that will be displayed for the
transaction in various windows.
cost of revenue
An amount that is calculated as total cost minus overhead.
Cost Plus project
A type of project in which the customer pays for actual project costs plus a fee. Each
billing invoice is for a percentage of the final total that is calculated using forecast
budget amounts.
cost transaction
A transaction that you enter to track project costs. Cost transactions include
timesheets, employee expense transactions, equipment logs, miscellaneous logs,
inventory transfers, return from project transactions, shipment receipts, and
shipment/invoice receipts.
credit
To enter an amount that decreases the balance of an asset or expense account or

increases a liability, owners’ equity, or revenue account; the right side of any T
account.
credit card
Cards used to pay for items instead of a check, cash, or other method. The amount
due is then billed by the credit card company. Using the Credit Card Setup window,
cards used to make payments can be classified as credit cards or check cards. Cards
accepted as payment by a company can be classified as bank cards or charge cards.
credit memo
A document that credits a customer’s or vendor’s account and explains the reason
for the credit.
currency
Any form of money, including bills and coins, used as a medium of exchange.
customer
The entity with which a business unit conducts a business transaction.
customer alias
A string of up to five characters for a specific customer used as the basis for
creating a contract number for the customer.
customer class
A group of customers that you can define parameters for.
customer payment
A transaction to track money that is paid by a customer for goods or services.
debit
To enter an amount that increases an asset or expense account, or decreases the

balance of a liability, owners’ equity or income account; the left side of any T
account.
department
A business division that incurs costs and/or generates revenue.
department code
A unique alphanumeric name used to identify a department.
details
Individual amounts that you enter in a transaction, as opposed to summary, which

is the calculated total amounts.
discount available
A reduction in the amount payable, typically offered if the payment is made by a

certain date.
discount date
The date an invoice must be paid for a discount to be valid.
distribution accounts
Accounts designated to receive a percentage or part of a posted transaction, or

accounts assigned to a fixed or variable allocation account that will receive a
percentage of posted transaction amounts. distributions The manner in which
amounts from a transaction are divided up among posting accounts.
document
All the information entered for a single, complete transaction, including distribution
amounts (if any).
document date
The date when a document or transaction is created.
document number
A number that identifies a group of entries that have been posted as a single,
complete transaction.
earned value analysis
A method for measuring project performance. It indicates how much of the budget
should have been spent in view of the amount of work completed so far and the
baseline cost for the project.
earnings
The net income for a contract or project.
employee
A person who works for your company and receives payment for work performed.
employee access list
The list of employees who can enter transactions for a specific project.
employee class
A group of employees that you can define parameters for.
employee expense transaction
A transaction that you enter to track project costs that are incurred by an employee
while working on a project, for example, travel expenses.
employee rate table
A list of employees and the cost and profit for whenever an employee works on a
project.
end date
The last day that you can enter cost transactions using a specific cost category in a
project budget.
equipment
Machines, tools, or other equipment used for a project.
equipment access list
The list of equipment that can be used when entering equipment log transactions
for a specific project.
equipment class
A group of equipment records that you can define parameters for.
equipment log
A transaction used to track the cost for using equipment for a project.
equipment rate
The amount that you bill a customer per unit of time for using a piece of equipment
for a project.
equipment rate table
A list of equipment and the cost and profit for whenever the equipment is used for
a project.
fee
An amount that a customer pays for services over and above project costs. Also, an
amount that is paid in advance or an amount that is withheld until project
completion. Fees include Project, Service, Retainer, and Retentions.
fee calculation method
A method of determining how a fee is calculated and the fee frequencies that you
can select for a fee. Fee calculation methods include % of Baseline Cost, % of
Baseline Revenues, Fee Amount, and Retention Percent.
fee frequency
A framework for when and how often a customer is billed for a fee. Fee frequencies
include At Project Completion, Per Invoice, and Scheduled.
fee template
A framework that contains information for creating a new fee record.
Fixed Price project
A type of project in which the customer pays a predetermined amount for the entire
project. Each billing invoice is for a percentage of the predetermined total billing
amount.
fiscal period
Divisions of the fiscal year, usually monthly, quarterly, or semiannually, when

transaction information is summarized and financial statements are prepared.
fiscal year
An accounting cycle composed of up to 30 consecutive periods, spanning the

number of days in a year. In Australia and New Zealand, the fiscal year is referred to
as a financial year.
forecast
A project budget amount that you can modify as a project progresses to represent
expected results. Forecast amounts are subjective. You can use forecast amounts to
measure project performance against baseline and actual amounts.
freight
An amount paid to a carrier for transporting goods.
functional currency
The primary currency in which a company maintains its financial records. Typically,
the functional currency is the currency for the country/region where the company is
located.
history
A record of transactions for previous and current years.
inactive employee
An employee record that is unavailable to use.
inventoried item
An item that quantities are tracked for.
inventory
Goods produced or purchased to be used or sold at a later time.
inventory transfer
A transaction to move items from inventory to a project, or from a project to

inventory.
invoice format
A framework that contains information for the layout and content of a printed
billing invoice.
invoice receipt
A transaction that tracks the receipt of an invoice from a vendor for items that have
been received or are expected to be received from the vendor for a purchase order
for a project.
item
The name for a product or service. Items include inventoried and non-inventoried
items.
item number
A number that identifies one type of inventoried item. Inventoried items can be
used in transaction entry only if item numbers have been assigned.
journal entry
A transaction recorded in a formalized manner by entering an account and debit

and credit amounts.
labor list
See employee access list.
labor rate table
A generic term for an employee rate table or position rate table.
line item
A single entry in a transaction that typically includes an item, quantity, and cost.
lookup window
A window that displays a list of accounts, customers, jobs, or other items in the
accounting system. Lookup windows for a specific field are displayed by choosing
the lookup button next to the field.
lot number
A number provided by the manufacturer that can be used for tracking quantities of
a specific item (for example, a roll of carpet or a roll of wire).
main segment
The segment of posting accounts that has been designated as the sorting option
for accounts on financial statements. Typically, the main segment is used to indicate
whether the account is an asset, liability, owners’ equity, revenue or expense
account.
miscellaneous class
A group of miscellaneous records. You can use miscellaneous classes to define

parameters for miscellaneous records within the group.
miscellaneous expense
An additional expense for a project that can’t or shouldn’t be tracked using

timesheets, employee expense transactions, equipment logs, inventory transfers,
shipment receipts, or shipment/invoice receipts.
miscellaneous log
A transaction to track additional expenses for a project that can’t or shouldn’t be

tracked using timesheets, employee expense transactions, equipment logs,
inventory transfers, shipment receipts, or shipment/ invoice receipts.
non-inventoried item
An item that quantities aren’t tracked for.
<NONE> cost category
Used to indicate that a line item on a transaction is not to be tracked using a cost
category.
<NONE> project number
Used to indicate that a line item on a transaction is not to be tracked for a specific
project.
originating currency
The foreign currency that a multicurrency transaction was conducted in.
overhead
An indirect project cost, such as electricity, administration, and insurance.
overhead calculation method
A method of calculating overhead for employees and vendors, and when entering
timesheets, employee expense transactions, equipment logs, and miscellaneous
logs. Also determines how overhead is calculated for projects, cost categories, and
cost categories in project budgets. Overhead calculation methods include Amount
per Unit and Percentage of Actual Cost.
path name
A location on a computer or in a network where files are created and stored.
pay code
A code used to identify a specific type and rate of pay.
pay rate
The amount an employee is paid for working a period of time.
payment method
The form of payment. Examples include check, cash, or credit card.
payment terms
Conditions for payment that are extended to customers and that vendors may
extend to a company.
periodic budget
A budget for estimating and tracking costs, quantities, and billing amounts for a
project by fiscal period.
position code
A unique alphanumeric name used to identify a defined role within an organization.
position rate table
A list of positions and the cost and profit for whenever an employee works in a
specific position on a project.
posting
A procedure to make temporary transactions a part of a business’s permanent

records; to update accounts by transaction amounts. In manual accounting, posting
transfers journal entries to the proper accounts in a general ledger.
posting account
A financial account that tracks assets, liabilities, revenue or expenses. These

accounts will appear on financial statements and other reports.
posting date
The date that a transaction is recorded in General Ledger.
pre-billing worksheet
A report that includes detailed information and space to include comments about
the billing invoices that you plan to generate. There are two types of pre-billing
worksheets: in-process worksheets that include saved billing invoices; and billable
worksheets, which include all billing invoices.
price level
Used to specify different prices for an item or group of items, depending upon who
it’s being sold to. For example, you might charge one price if you’re selling to a
retail customer and another price to a wholesale customer. You don’t need to
assign all price levels to all units of measure; be sure that each unit of measure can
be used with every price level at which you might want to sell it.
profit type
A method of calculating profit based on project type. Profit types include % of

Actual, % of Baseline, Billing Rate, Markup %, None, Price Level, Profit/Unit - Fixed,
Profit/Unit - Variable, and Total Profit.
progress billing
A method of billing customers for the percentage of project completion, based on

either cost or quantity, for a Cost Plus or Fixed Price project.
project
A task with a budget to complete a deliverable for a contract.
project amount
The total cost for a project. The project amount calculation depends on whether the
project is a Cost Plus, Fixed Price, or Time and Materials project.
project budget
The planned revenue and expenses for a project categorized by cost. You can
include various cost categories in the budget, and then specify baseline and
forecast amounts for each cost category. You then can compare actual costs to
budgeted costs.
project budget totals
The baseline, forecast, and actual total revenue and expense amounts for a project
and its various cost categories.
project class
A group of projects defined by parameters within the group.
project manager
The person who leads a project team and is responsible for completing projects and
meeting objectives using project management.
project number
An alphanumeric name used to identify a project.
project status
The progress of a project. Project statuses include Closed, Completed, Estimate, On

Hold, Open, plus additional statuses that you can name.
project template
A framework that contains information to create a new project record.
project type
A project classification used to determine how project costs are calculated and how
customers are billed. Project types include Cost Plus, Fixed Price, and Time and
Materials.
purchase order
A document that authorizes you to purchase items from vendors for projects.
purchase order format
A framework that contains information for the layout and content of a printed
purchase order.
purchases/material
Refers collectively to purchase orders, shipment receipts, shipment/invoice receipts,

invoice receipts, and inventory transfers with non-inventoried items.
purchasing document
A purchase order that you enter to purchase items from vendors for projects.
General ledger accounts and inventory quantities aren’t updated when you enter a
purchase order, which is why it is referred to as a document and not a transaction.
purchasing transaction
A transaction that you enter to track the receipt of items and invoices from vendors
for purchase orders for projects. Purchasing transactions include shipment receipts,
shipment/invoice receipts, and invoice receipts.
rate table
A list of employees, equipment, or positions used to calculate cost and profit for
whenever they are used for a project.
reconcile
A procedure that compares corresponding data in different logical tables and

removes any “orphan” records. Reconciling also verifies that information stored in
two different tables is the same, and if there are discrepancies, changes the
information in the table being reconciled to match the information in the table it’s
being compared to.
recurring batch
A batch that will be posted repeatedly, according to the selected frequency. An

example of a recurring batch would be one to record monthly rent expense. In
Australia and New Zealand, transactions entered in a recurring batch are referred to
as standing transactions.
reference document number
A number that identifies a transaction that a Referenced transaction has been

posted for.
referenced transaction
A transaction used to correct the quantities on a posted cost transaction.
report option
A collection of entries that specify the amount of information or the type of

information that appears on a report.
Multiple report options can be created.
reporting currency
A currency that is used to convert functional currency amounts to another currency

on inquiries and reports. This calculation uses a spot exchange rate entered when
the inquiry or report is generated.
return from project transaction
A transaction used to return items from projects to vendors.
revenue
The income generated as the result of activities related to a project or contract.
revenue recognition
A feature that allows you to recognize revenue for Cost Plus and Fixed Price
projects. When you bill customers for these projects, the billing amounts are not
recognized as revenue on Profit and Loss Statements. Revenue recognition will
update the financial statement.
revenue recognition calculation method
The method of determining revenue amounts when recognizing revenue using

revenue recognition transactions.
revenue recognition cycle
A record that identifies when and how often to recognize revenue for contracts and
projects. Revenue recognition cycles can be used to automatically generate revenue
recognition transactions.
revenue recognition transaction
A transaction used to recognize earnings from projects as revenue for the company.
salary pay
A pay code that’s used for employees who are paid a specific amount each pay
period.
salesperson
A person who sells a company’s goods or services.
serial number
A number assigned to a specific inventory item to identify it and differentiate it

from similar items with the same item number.
shipment receipt
A transaction used to record merchandise received from a vendor.
shipment/invoice receipt
A transaction used to record merchandise received from a vendor, accompanied by

an invoice.
shipping method
A method of transportation for goods or services. Default shipping methods are

provided with the accounting system and can be modified for a specific business.
single-use batch
A batch that is created, posted once and then automatically deleted from the
system after all transactions in the batch are posted.
site
A store, warehouse or other location from which business or store items are sold.
standard transaction
A basic timesheet, employee expense transaction, equipment log, or miscellaneous

log.
summary
The calculated total amounts for a transaction.
SUTA
An acronym for “state unemployment tax.” This is the state unemployment tax paid
by an employer to provide for payments of unemployment compensation to
workers who have lost their jobs.
tax detail
A definition of a tax that may apply to sales or purchases. Tax details are grouped
into tax schedules.
tax schedule
Groups of tax details that define each tax that may apply to sales or purchases.
When tax schedules are assigned to vendors, the applicable taxes will be calculated
during transaction entry.
template
A framework that contains information for creating a new contract, project, or fee
record.
territory
A division of the regions in which a company’s products are sold, often separated
from other divisions by geographical location.
third-party customer
A customer who is the customer of an individual or business that you are billing for
a contract.
third-party customer list
A list that you can use to bill a customer who is the customer of the individual or
business that you are billing for a contract.
Time and Materials project
A type of project in which the customer is billed for project costs as they are
incurred. The amount that the customer is billed is based on billing rates or markup
percentages for time and materials used for the project. Time includes the time that
employees spend working on a project and for equipment used for the project.
Materials include inventoried and non-inventoried items used for the project.
timesheet
A transaction entered to track the cost of time for an employee on a project.
total billings
The sum of the amounts billed for a contract or project.
total cost
The sum of the actual cost amounts incurred for a contract or project.
total revenue
The sum of the revenue amounts recognized for a contract or project.
trade discount
A discount given by a vendor or received by a customer. The rate is calculated at

the time of a purchase or sale and is added to payment term discounts that also
may be offered. Trade discounts only can be applied to Time and Materials projects.
transaction
An event or condition that is recorded in asset, liability, expense, revenue and/or

equity accounts.
transaction date
The date when a transaction occurred; not necessarily the date that it was entered
into the system.
transaction history
A record of transactions for a previous year or a record of a fully applied

transactions.
transaction owner
The type of record that a transaction is entered for. For example, an employee is the
transaction owner for timesheets and employee expense transactions.
unbilled revenue
Revenue that has been realized for Time and Materials projects but hasn’t been
billed, or revenue that has been recognized for Cost Plus and Fixed Price projects
but hasn’t been billed.
unit
A single quantity of an item.
unit cost
The amount per unit that you paid for an item you’re planning to sell or consume.
unit of measure
The quantities in which your business buys or sells an item.
unit of measure schedule
A group of related named quantities.
user
A person working with software on a computer; a computer operator.
user class
A group of users. You can use user classes to define parameters for users within the
group.
user-defined field
A field that can be used to track information specific to your company.
user-defined field label
The name for a user-defined field.
valuation method
The method by which you track the cost of an item from the time you receive it
until you sell it. Different businesses and industries typically use different valuation
methods, which are sometimes specified by law. In most locations, strict legal limits
are in place concerning changing the valuation method once you’ve begun using a
particular one. Valuation methods include FIFO Perpetual, FIFO Periodic, LIFO
Perpetual, LIFO Periodic, and Average Perpetual.
vendor
A person or company providing goods or services in return for payment.
vendor class
A group of vendors. You can use vendor classes to define parameters for vendors
within the group.
WIP (Work In Progress)
The project costs that customers haven’t been billed for.
workers’ compensation tax
Taxes paid by the employer for insurance covering injuries incurred on the job.
Workers’ compensation is paid to the state government.
write down
To arbitrarily reduce a calculated billing amount on a billing invoice.
write up
To arbitrarily increase a calculated billing amount on a billing invoice.
writeoff
A process used to adjust small differences between an invoice amount and a

payment or an amount that a business chooses not to pay on a vendor account. A
writeoff is deducted from the account total.

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3/16/23, 8:16 AM Accounting Control Guide - Dynamics GP | Microsoft Learn

Project Accounting - Accounting

The Project Accounting Accounting Control Guide includes information for

Project Accounting Cost Management Guide Includes information about how to

Project Accounting Administrator’s Guide Includes information about how to set

This introduction is divided into the following sections:

What’s in this manual

Symbols and conventions

Resources available from the Help menu

What’s in this manual

The manual is divided into the following parts.

Part 3, Reports and utilities, includes information about reports in Project

About this window

Show Required Fields

Provides information about enhancements that were added to Microsoft Dynamics

Microsoft Dynamics GP Online

Part 1: Posting setup and control

Chapter 1: Posting setup

The following topics are discussed.

The Project Accounting chart of accounts

The Work In Progress posting account

Specify posting account numbers for a cost category in a project budget

Specify default posting account numbers for fees assigned to projects

Specify posting account numbers for a fee assigned to a project

The Project Accounting chart of accounts

Account Typical balance Financial statement

Cost of Goods Sold (COGS) Debit Profit and Loss Statement

Contra Credit Balance Sheet

Overhead Credit Balance Sheet

Unbilled Accounts Receivable Debit Balance Sheet

Unbilled Project Revenue Credit Balance Sheet

Inventory Debit Balance Sheet

Accrued Purchases Credit Balance Sheet

Accounts Payable Credit Balance Sheet

Project Revenue Credit Profit and Loss Statement

Accounts Receivable Debit Balance Sheet

Account Typical balance Financial statement

Work In Progress Debit Balance Sheet

Project Costs Debit Profit and Loss Statement

Project Billings Credit Balance Sheet

Project Losses Credit Balance Sheet

Earnings in Excess of Billings (EIEB) Debit Balance Sheet

Billings in Excess of Earnings (BIEE) Credit Balance Sheet

The Work In Progress posting account

Specify default posting account numbers for records and

Specify default posting account numbers for cost

Open the Project Setup Cost Budget Accounts window.

purchase orders, shipment receipts, shipment/invoice receipts, invoice receipts,

Specify posting account numbers for a cost category in a

Specify default posting account numbers for records and

Specify default posting account numbers for fees

Specify posting account numbers for a fee assigned to a

Open the Project Fee Accounts window.

Specify account segment numbers to use when posting

An account segment number can represent a particular area of a business or an

Specify account segment numbers to use when posting

An account segment number can represent a particular area of a business or an

that department. To use specific account segment numbers to identify when

Chapter 2: Posting control

The following topics are discussed.

Manually create a batch for transactions

Review and modify posting account distributions for transactions

Manually create a batch for transactions